| Market: | All |
| Products: | Derivatives |
| Date: | 26 April 2007 |
Project: Clearing Fund for Powernext® Futures Market
LCH.Clearnet SA is pleased to confirm that the implementation process of the Clearing Fund for Powernext® Futures members is planned to go live in June 2007.
Service description
In the perspective of the members Go Live scheduled in June 2007, LCH.Clearnet SA is taking the opportunity of the Clearing Fund project implementation, to set-up a new legal structure which will replace the Master Agreement for Derivatives Transactions on Powernext® and the related Service Level Description.
The following documents are available on LCH.Clearnet’s website:
Notwithstanding minor changes, the rights and obligations of the clearing members and LCH.Clearnet SA remain those agreed in the latest version of the Master Agreement and its Service Level Description.
This set of documents will be applicable and/or easily adaptable to all current and coming Powernext® markets and products.
Invitation
The Clearing Fund for Powernext® Futures effective go live date will be communicated to members during the next General Members Meeting planned in Paris on 10 May 2007, from 2:00 pm to 4.00 pm CET in LCH.Clearnet SA’s premises, Building “Le Centorial”, 18, Rue du Quatre-Septembre, 75002 Paris.
Project contact
In order for LCH.Clearnet SA to be exhaustive and efficient in its communication, Powernext® Futures members are kindly requested to provide a contact name and a back-up contact name to be the main entry point for all communication linked to the launch of this project.
Should you have any questions, please contact or address any correspondence to your LCH.Clearnet SA Product Implementation & Powernext® Customer Relationship manager:
Michel Bokobza: +33 1 70 37 65 55, michel.bokobza@lchclearnet.com.